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100% FDI: Indian Govt issues norms to ease compliance for foreign investment in insurance
The proposed changes to the Amended 2015 Rules make it clear that...
Cyber Insurance: Ransomware remains biggest driver of claims
``Asian businesses with overseas presence should also consider...
IUMI Asia Forum 2022 in Mumbai
Hosted by General Insurance Council, International Union of Marine Insurance(IUMI) to hold its Asia Forum 2022 in Mumbai during June 1-2, indeed a proud moment for the Indian insurance industry R Balasundaram As we take off our masks and say ‘Good riddance’ to...
Climate change: Threatening access to water and sanitation
And globally, each 1°C increase caused by global warming is projected to result in a 20 per cent reduction in renewable water resources, affecting an additional seven per cent of the population It is estimated that more than one third of the European Union will be...
Global economy: Scarcity triggers $1.6 trillion of GDP loss
Russia’s invasion of Ukraine and China’s Covid Zero lockdowns are disrupting supply chains, hammering growth and pushing inflation to forty-year highs. Emerging nations could see more acute threats to energy and food security, like the ones already causing turmoil in...
Global food safety net: Getting Thinner
So-called “multiple breadbasket failures” are likely to become sharply more likely at higher levels of global warming. At 2 degrees of warming, the risk that five of the world’s corn-producing regions fail simultaneously goes from a once-in-16-years to a...
Climate Resiliency: Insurers need to fundamentally change business models
World Property and Casualty Insurance Report 2022: research suggests that only 8% of insurers are resilience champions; 73% of policyholders rank climate change among their top concerns “The impact of climate change is forcing insurers to step up and play a greater...
Cryptocurrencies: why they’ve crashed and what it could mean for their future
Crucially, the recent major falls in cryptocurrencies have called into question just how stable stablecoins are. After all, they are designed to have practically zero volatility by maintaining a "peg" to some other underlying asset If you had invested £100 (US$122) in...
World ‘at a crossroads’ as droughts increase nearly a third in a generation
From 1970 to 2019, weather, climate and water hazards, accounted for 50 per cent of disasters and 45 per cent of disaster-related deaths, mostly in developing countries. By 2030, an estimated 700 million people will be at risk of being displaced by drought.By 2040, an...
Insurance Protection: Rising inequality in advanced markets take $ 252 billion toll
Guido Fürer, Group Chief Investment Officer of Swiss Re said,"There is a growing opportunity for private capital to make a positive impact on inequality. Until now, the "S" in ESG, which refers to social aspects such as diversity, inclusion and equality, has been an...
Shipping losses fall, but Ukraine war, costly issues with large vessels muddy the waters: Allianz
“The insurance industry is likely to see a number of claims under specialist war policies from vessels damaged or lost to sea mines, rocket attacks and bombings in conflict zones.Insurers may also receive claims under marine war policies from vessels and cargo blocked...
Heat waves-testing the limits of human survival in India
Daily power outages driven by a surge in demand for electricity have resulted in blackouts as long as eight hours in some parts of India, while coal stocks — the fuel that accounts for 70% of the country’s electricity generation — are running low, prompting warnings...